LT Foods Limited announced the acquisition of 30% stake in Leev.nu through its fellow subsidiary Nature Bio Foods BV (NBF B.V.), with an option to acquire a further 21% stake at the end of 5 years. Nature Bio Foods Limited (NBF), the subsidiary of LT Foods has established itself as a responsible and dependable organic product and ingredient supplier across the globe. The Company has been providing authentic organic products through its holistic, integrated & sustainable business model that inspires, promotes & supports thousands of organic farmers. The acquisition of a stake in Leev.nu is in line with long term growth strategy of NBF.
Leev.nu is a Netherlands based Organic Specialty Food Company with a portfolio comprising breakfast bars, healthy snacks, baking range & gluten free, low sugar products that promote an active & healthy lifestyle. Further, it is expanding its product portfolio and venturing into organic wholegrains category such as oats and flax seeds. Its products are available in both retail & online stores.
Besides NBF BV, AndersInvest, a private equity investor, & Did-It, a Company that has immense experience in worldwide trading of organic products, have also taken a stake in Leev.nu BV.
Commenting on the stake sale, Leo Voorwinden, Director, Leev.nu said: "From a strategic point of view, it is critical that we build short supply chains. With NBF BV, a subsidiary of LT Foods coming on board, we can source our raw materials directly from organic farmers in India. Did-It, offers a wealth of experience in worldwide trading of organic products. In addition, AndersInvest gives us the opportunity to grow & build a future organic platform through acquisitions."
Speaking on the occasion, Chairman & Managing Director LT Foods Limited, Mr. Vijay Kumar Arora said "Strategically, this acquisition gives NBF B.V. a reach to the consumers directly via the mainstream distribution strength of Leev. Currently NBF manages the farm to the doors of EU industries and brands and now would be contributing to the full chain from farm to fork. Leev.nu will now have access to 100% organic products grown by Nature Bio Foods Limited's network of nearly 60000+ organic farmers, cultivated in 80000+ hectares of certified organic land in India. Now consumers of Netherlands will enjoy finest organic Ingredients from India with local distribution in Netherlands. This will further promote the share of India's organic in EU."
Nature Bio Foods Limited has already set up distribution subsidiaries in USA & Europe. The Company is also a preferred ingredient supplier to retail giants such as Walmart, Carrefour & many more. As consumers globally gravitate towards food choices that are safe, environment friendly & healthy, NBF B.V. is aggressively eyeing to expand its branded Organic ingredient and super food product portfolio in Europe.
Shares of LT FOODS LTD. was last trading in BSE at Rs.55.45 as compared to the previous close of Rs. 55.2. The total number of shares traded during the day was 68717 in over 959 trades.
The stock hit an intraday high of Rs. 56.4 and intraday low of 55.3. The net turnover during the day was Rs. 3839247.